News
CEB at COP29: Social action for climate goals
08 November 2024
Paris – The Council of Europe Development Bank (CEB) will take part in COP29, the annual UN climate conference, to be held in Baku, Azerbaijan, from 11-22 November 2024.
In the year of record temperature highs and extreme weather affecting communities worldwide, COP29 will bring together leaders from governments, business and civil society to advance concrete solutions to climate change with a key focus on finance. COP29 will also be a crucial moment for countries to present their updated national climate action plans under the Paris Agreement, due by early 2025.
CEB’s approach
Climate change is not just an environmental issue: it is a social crisis that exacerbates inequality, disproportionately affecting vulnerable groups. Addressing climate change can drive positive social transformation, but only if responses are inclusive and prioritise the needs and challenges of vulnerable populations.
It is essential to acknowledge that climate action may create winners and losers, and without proper safeguards, the transition could exacerbate social inequalities. Focusing on leaving no-one behind can strengthen social cohesion and climate action at the same time.
As Europe’s social development bank, CEB is well placed to identify and address the social challenges emanating from this process.
MDBs delivering as a system
Multilateral Development Banks (MDBs) are key players in the international development finance landscape, and their contributions are instrumental in supporting climate action and a just transition to a climate-resilient future.
Enhancing collaboration with other MDBs is a key focus for the CEB, as we prepare to assume the rotating chairmanship of the Heads of MDBs group in December, shortly after COP29 concludes. To showcase the transformative impact of MDBs collective action the CEB is proud to continue to co-host the joint MDB Pavilion.
The pavilion will host a range of events throughout COP29, including discussions on country platforms and support for country climate ambition; scaling up climate finance and measuring results, among many others.
CEB events
(Baku time)
12 November – Climate Action and Social Inclusion: Two Sides of the Same Coin
09:00-10:15, MDB Pavilion (Blue Zone)
18 November – Enhancing the quality of climate finance through just transition outcomes: An initial approach
13:30-15:00, MDB Pavilion (Blue Zone)
21 November – Official UNFCCC Side event with GIZ: Green Skills for the Future: Unlocking Investment for a Global Just Transition
16:45-18:15, Side event 7 (Blue Zone)
Other events
(Baku time)
The CEB delegation will take part in a number of other events:
14 November – The Role of MDBs/IFIs for collective stakeholder approach to climate finance
11:30-13:00, Bulgarian Pavilion
15 November – UNDP Just Transition event
14:00, UNDP Pavilion
16 November – The Inclusive Diplomacy Lounge – hosted by the Union for the Mediterranean
15:30 to 16:30, Mediterranean Pavilion (Blue Zone F1B)
19 November – Experience implementing the common principles – with IDFC, IDFC Pavilion
20 November - Urban Finance for Climate Action: Scaling Innovation & Partnership in Secondary Cities in Eurasia
09:00 - 10:30, UNDP Pavilion
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The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.
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